One of the more tantalizing aspirations being promoting around blockchain technology is the promise of more efficient economies and systems of economic governance through the removal of human actors who cheat, lie, or game the system. Because the technology enables decentralization and its data can be immutable, the thinking goes, no single actor or group of actors should be able the stack the deck in their favor. Smart contracts can govern agreements between parties, automatically executing or declining to execute based on clear, quantifiable parameters that are visible to everyone. Such an advance could have the potential to usher in a whole new era for global economies.
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